Facebook Adds 25 New Banks To IPO Underwriters

Social media giant Facebook Inc. added 25 new underwriters to the team of banks taking the company public.

The deal, which is expected later this spring, expands the list from the six banks that had been on the cover of its prospectus from the start. It's not unusual for 25 to 30 banks to work on large offerings such as Facebook's.

Joining the underwriting team are: Citigroup Inc.(C), Credit Suisse Group (CS), Deutsche Bank AG (DB, DBK.XE), RBC Capital Markets, Wells Fargo & Co. (WFC), Blaylock Robert Van LLC, BMO Capital Markets Corp., C.L. King & Associates, Inc., Cabrera Capital Markets LLC, CastleOak Securities L.P., Cowen & Co., Lazard Capital Markets LLC, Lebenthal & Co., Loop Capital Markets LLC, M.R. Beal & Co., Macquarie Capital (USA) Inc., Muriel Siebert & Co., Oppenheimer & Co., Pacific Crest Securities LLC, Piper Jaffray & Co. (PJC), Raymond James & Associates, Samuel A. Ramirez & Co., Stifel, Nicolaus & Co., The Williams Capital Group L.P., and William Blair & Co.

They join the original team of six: Morgan Stanley (MS), JPMorgan Chase & Co. (JPM), Goldman Sachs Group Inc. (GS) Bank of America Merrill Lynch (BAC, BARC.LN), Barclays PLC's (BCS) Capital Inc., and Allen & Co.

-By Lynn Cowan; 202-257-2740; [e-mail]